Jerome Kerviel Says He Had An Imaginary Rugby-Loving Hedge Fund Friend Named "Matt"

Today, according to Reuters, Kerviel admitted to creating a fake client to cover massive unauthorized bets with a broker. He called him "Matt."

Kerviel says that back around 2002, when a broker, Moussa Bakir, asked him about his trading strategy, he told him all about "Matt" who was actually non-existent, but whom Kerviel had imagined into a wanna-be billionaire hedge fund manager who loved rugby.

Apparently, according to Kerviel's fantasy, "Matt" wanted to make $1 billion, so he was the perfect cover for all of Kerviel's risky bets.

He just told Bakir that he needed to make these trades because his client, "Matt," was pressuring him.

And just like that, "Matt" screwed Kerviel, live in front of everyone in court today. Hot.